Optimism is growing that port delays and a trucking shortage in Shanghai are quickly abating, providing some relief to supply chains, though major hurdles remain.
Hospitals around the U.S. are postponing CT scans and rationing care while waiting on shipments of medical dye made in a Shanghai plant that just restarted production amid the city’s lockdown.
U.S. and European businesses are reconsidering their investments in China after the lockdown in Shanghai and restrictions in other cities caused major disruption to their operations.
The official line coming out of Covid-hit Shanghai is that business is returning to usual despite the ongoing lockdown, yet hundreds of manufacturers in the city aren’t operating at anywhere near to full capacity, if they’re up and running again at all.
China’s stringent Covid Zero strategy has damaged foreign businesses’ confidence, with U.S. firms in the country slashing investments and lowering revenue projections as lockdowns hit operations and supply chains.